Paragon Bank Mortgage Rates, Fees & Info
Memphis, TNLEI: 549300TGWKRP2P13MO72
Tax ID: 20-1022853
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Mortgage Data
Review & Overview
Paragon Bank is a smaller bank specializing in Home Purchase and Refi loans. Paragon Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Memphis, Wilmington, Myrtle Beach, Oxford, and Atlanta among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)Paragon Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
322Origination Dollar Volume (All Markets)
$98,330,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 228 | $47,290,000 | $207,412 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 33 | $21,715,000 | $658,030 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $9,655,000 | $1,931,000 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 13 | $3,975,000 | $305,769 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $0 | 0.00% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $1,175,000 | $1,175,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $950,000 | $475,000 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $0 | 0.00% |
| Jasper, AL (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $710,000 | $177,500 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| Eufaula, AL-GA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Corinth, MS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Wilson, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Clarksdale, MS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 320 | $97,790,000 | $305,594 | $0 | 0.00% |
| FHA | 2 | $540,000 | $270,000 | $0 | 0.00% |
For 2022, Paragon Bank's most frequently originated type of loan was Conventional, with 320 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 242 | $64,010,000 | $264,504 | $0 | 0.00% |
| Refi | 46 | $23,950,000 | $520,652 | $0 | 0.00% |
| Cash Out Refi | 34 | $10,370,000 | $305,000 | $0 | 0.00% |
For 2022, Paragon Bank's most frequently cited loan purpose was Home Purchase, with 242 originations. The 2nd most popular reason was Refi, with 46 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 322 | $98,330,000 | $305,373 | $0 | 0.00% |
For 2022, Paragon Bank's most frequently cited loan duration was Other, with 322 originations.
Loan Sizing
2022 saw Paragon Bank place emphasis on $200k-400k loans with 97 originations, totaling $27,195,000 in origination value.
Applicant Income
Paragon Bank lent most frequently to those with incomes in the $250k+ range, with 53 originations. The second most popular income band? $100k-150k, with 37 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 322 | $98,330,000 | $305,373 | $0 | 0.00% |
Paragon Bank lent most frequently to those with DTI ratios of Exempt%, with 322 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.46%
Paragon Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.48%
Paragon Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 322 | $98,330,000 | $305,373 |